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40 projects under China's petrochemical stimulus package
By Wan Zhihong (chinadaily.com.cn)
Updated: 2009-03-04 12:55 The Chinese government said it would speed up the development of 40 petrochemical projects from 2009 to 2011 as part of the country's stimulus plan for the industry approved last month.
Under the stimulus package, the government will begin construction or expand the capacity of five refineries, respectively in Guangdong, Xinjiang, Fujian, Tianjin and Guangxi. The petrochemical sector is expected to see industrial added value growth of 15 percent annually from 2009 to 2011, according to the plan. By 2011 the added value of the industry will amount to 1.75 trillion yuan ($256 billion) a year. (For more biz stories, please visit Industries)
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